BPCL swing positionDouble bottom in BPCL and volume divergence plus money influx. Reasons to buy BPCL
Bpcltrading
BPCL : Filling Fuel for recoveryBPCL | Based on Demand Zone and Elliott Wave Analysis
Chart Overview
The chart highlights a completed Elliott Wave 5-structure, with price entering a Valid Demand Zone between ₹270-280.
A potential reversal setup is visible, targeting higher levels if price action confirms buyer strength.
Analysis Breakdown
Key Zones to Watch:
Demand Zone (₹270-280):
A deep retracement zone with strong historical buying activity.
Liquidity likely emerges here after breaking the Major Base Support, trapping weak sellers.
First Target Zone (₹343-355):
Initial resistance where sellers may reappear after a reversal.
Second Target Zone (₹387-400):
Extended retracement supply zone where profit-taking is expected.
Elliott Wave Structure:
The current chart shows a 5-wave bearish structure:
Wave (1): Initial impulsive move down.
Wave (2): Weak corrective pullback upward.
Wave (3): Strongest wave breaking major supports.
Wave (4): Minor correction upward.
Wave (5): Final wave driving price into the demand zone.
Wave 5 completion often signals a potential trend reversal, aligning with this setup.
Confirmation Signals:
Price Action: Look for bullish reversal candlestick patterns (e.g., hammer, bullish engulfing) near ₹270-280.
Volume Spike: Increased buying volume in the demand zone indicates institutional interest.
Change of Character (ChoCH): Shift from lower lows/lower highs to higher highs/higher lows.
Trading Plan
Bullish Reversal Trade:
Entry: Near ₹270-280 upon confirmation of bullish price action or volume signals.
Targets:
Target 1: ₹343-355 (initial resistance).
Target 2: ₹387-400 (supply zone).
Stop Loss: Below ₹265 (invalidation of demand zone).
Bearish Breakdown Trade (If Setup Fails):
Logic: A daily close below ₹265 invalidates the demand zone.
Entry: Short position below ₹265 after a confirmed breakdown.
Target: ₹240-250 (next strong support zone).
Stop Loss: Above ₹270-275 (to avoid false breakdowns).
Risk Management
Position Sizing: Limit risk to 1-2% of total capital.
Stop Loss Discipline: Strictly follow stop-loss levels to prevent emotional trading.
Risk-to-Reward Ratio: Aim for at least 1:2 or higher R:R ratio (risk ₹10 to target ₹20+).
Educational Notes
Demand Zone Reversals: Demand zones often lead to significant reversals when combined with liquidity traps and bullish signals.
Wave 5 Completions: Wave 5 typically completes a trend, offering reversal opportunities.
Patience is Key: Wait for confirmation signals to improve trade probability.
Conclusion:
Bullish Plan: Watch for reversals in the ₹270-280 demand zone, targeting ₹343-355 and ₹387-400.
Bearish Plan: Short below ₹265 if the demand zone fails, targeting ₹240-250.
Stick to the plan, follow risk management rules, and allow the market to confirm your bias before executing trades.
Disclaimer:
I am not a SEBI-registered analyst. The above analysis is for educational purposes only. Please conduct your own research or consult with a financial advisor before making trading decisions.
BPCL - Long SetupBPCL has bullish harami setup and already 15m candle has sustained above the price - 337.95 for more than 10 seconds.
Targets are: 352.95, 367.95
Stoploss only when 15min candle closes below the price: 322.95
Disclaimer: This is for educational purpose only and not any financial advice
BPCL is ready for a bullish break outBPCL has been trading with good volumes on the bourses in recent months.
The 52W H/L being INR 484.60 / 314.10
It is consistently trading above its long-term Moving Average for the past 3 months
There is a positive divergence on the oscillators
It is standing right at the resistance level on higher time frames
Resultantly, I believe that the target price should be INR 545-555
Stop Loss should be INR 457.00
Risk to Reward will be 1:3
The time horizon should be 9-12 months
BPCL - Elliott Wave countNSE:BPCL
NSE:BPCL1!
BSE:BPCL
BSE:BPCL1!
BPCL - The Elliott wave count seems to indicate a bearish market trend.
It's best to avoid buying during a second wave of movement, as a fall is possible.
For education purposes only!
BPCL--Good Buy @340-335 Range??Observations::
--------->> The stock is trending upwards in daily time frame.
--------->> Previous resistance is broken @360 strongly. If this acts as support buy ness is observed.
-------->> we have a demand zone @340-335 levels. where previously strong buy ness is observed.
--------->> if this zones acts as a support, a strong rise towards upside is possible.
If price breaks resistance @375 range we have next resistance placed @385,400 range possible.
if price comes back to this place we will go for buy @375,385,400 . Keep track this levels.
BPCL : Can break box pattern? After down trend, BPCL is now in accumulation phase. Bulls are showing aggressiveness on chart. May be it revers again from here inside box.
but what if it breakout box pattern :). Can we see uptrend back ?
What's your view? My view, i will wait for Box pattern breakout before entering and keep eye on this stock. Best for Swing trading if you know price actions
Like, Share, Comment for regular updates.
Disclaimer
I am not sebi registered analyst
My studies are Educational purpose only
Please consult with your Financial advisor before trading or investing
I may be 100% wrong as its my personal trade.
First Learn and then remove "L"
BPCL view BPCL is currently in a perfect place. We can expect an ideal directional move from this point on either side.
Wait for his stock to confirm either side move with good volumes and follow-up candles.
Trade safe. Manage risk. Be profitable.
Please follow us for more simple trading analysis and setups. Also, let me know in the comment if you have any queries.
Disclaimer:- This is my view. Please analyze the charts yourself and then decide to take any trades.
BPCL1!28-11
Daily chart of BPCL1!
Candles have breached the resistance at 330 with strength (manual).
The strong bullish candle is attempting to breach resistance at 336.15 (200 EMA).
There is a bullish divergence as well.
I have gone long as I think that once the candles manage to break and sustain above 336.15, it may test 368.45 levels.
BPCL Upside IdeaI am expecting a reversal on NSE:BPCL . As per my analysis, best level to take entry is 310 (have to wait for levels to come).
My targets will be 318, 338 & 365.
Can exit if price trade below level of 295 (Stop Loss 295).
Note: This is my personal analysis, only for learning. Thanks.
Head & shoulder in BPCL. BPCL has formed a head and shoulder pattern on a daily time frame.
The stock had closed just near the neck line and if the level is crossed a nice target of 315 can be achieved in intraday trade.
The stock is trading below 20 and 200 DMA and on the hourly time frame, there is a bearish moving averages cross over.
Confirmation for the trade:-
1. Head & shoulder
2. Bearish cross over (hourly time frame)
3. Closed below 20 and 200 ema (daily time frame
Only enter the trade if a 60 minute candle closes below 320-320.5 price level.
Targets :- 315, 307
Stop loss :- 325
Wait for a clear enter in the trade and for a price action near the levels. A intraday and even a swing trade can be initiated in this stock.
BPCL - long viewThe stock has crested a good base at the level range of 330 levels.
As you can see the stock has taken support around this area and moved upwards.
It reached a high of 503 levels before crumbling to huge selling pressures.
The stock is trying to make its way back to the top.
I have presented my views on the chart with levels that can help you take your trades.
Thanks & Regards,
If you feel you can make use of my and put them to good use, request you to kindly revert with feedback/suggestion/improvement
BPCL Technical AnalysisBPCL Technically near to support price if not break out support reverse possible
BPCL - possible downslideBased on candle stick pattern formed as the price has not been able to clear its resistance level.
* only for intraday purpose *
Watch the opening and then take a call
Resistance: 399-405-409
Support: 390-387-381
Buying can happen above 397
Selling pressure may come around 395
Simple Trade Setup | BPCL | 17-08-2021NSE:BPCL
Observations:
1) On Daily Time frame it looks trading in the range 445-465.
2) On Daily Time frame it looks like it is forming tripple bottom or may form tripple top pattern.
3) On Daily Time Frame it took support from 21DMA and closed above 50DMA
Please refer Chart below: daily time frame.
4) On 1hour time frame stock closed in the critical zone which is acting as a resistance since long time.
Please refer chart below: 1 hour time frame.
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Trade Setup for Date 17-08-2021:
1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min first and judge the price action.
2) Everything is mentioned on the chart. I hope it is easy to understand.
3) All the levels will work as support, resistance, entry and target w.r.t price action working near that level tomorrow.
Hope I made it easy to understand it.
Do comment your doubt or suggestion.
BPCL - Enter after the breakout Good for Positional Traders. Enter after the breakout or buy and hold.
BPCL SWING TECHNICAL ANALYSISAs per the Technical Analysis Chart Pattern, BPCL SWING TRADING view.
The potential bullish trend with the upside of 368 as the first target from the breakout of 355. We can follow the strict Stop Loss of 344. It is only Buy Above the resistance of level of 355.
380 can be taken as a second target.
Traders, If you liked this idea, hit the like button and write in the comment section.
This is only for educational purposes.
